insurance

(redirected from Insuring Agreements)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.

Insurance

Guarding against property loss or damage by making payments in the form of premiums to an insurance company, which pays an agreed-upon sum to the insured in the event of loss.

Insurance

A contract between a client and a provider whereby the client makes monthly payments, called premiums, in exchange for the promise that the provider will pay for certain expenses. For example, if one purchases health insurance, the provider will pay for (some of) the client's medical bills, if any. Likewise in life insurance, the provider will give the client's family a certain amount of money when the client dies. The insurance company spreads the risk of any one expense by pooling the premiums from many clients. See also: Takaful.

insurance

a method of protecting a person or firm against financial loss resulting from damage to, or theft of, personal and business assets (general insurance), and death and injury (life and accident insurance). Insurance may be obtained directly from an INSURANCE COMPANY or through an intermediary such as an INSURANCE BROKER/AGENT. In return for an insurance premium the person or firm obtains insurance cover against financial risks. See ASSURANCE, COST, INSURANCE AND FREIGHT.

insurance

a method of protecting a person or firm against financial loss resulting from damage to, or theft of, personal and business assets (general insurance), and death and injury (life and accident insurance). Insurance may be obtained directly from an INSURANCE COMPANY or through an intermediary such as an INSURANCE BROKER/AGENT. In return for an insurance premium, the person or firm obtains insurance cover against financial risks. The term assurance is frequency used interchangeably with that of insurance to describe certain kinds of life insurance. See RISK AND UNCERTAINTY.

insurance

A commercial contract agreeing to compensate one for loss in the event of specifically named or described risks.

References in periodicals archive ?
The next insuring agreement pertains to programming errors and omissions liability.
The fifth insuring agreement in EC 00 10 offers to pay for the costs of hiring an entity to determine the validity and severity of an extortion threat, plus reward money paid to an informant that leads to the arrest and conviction of the extortionist.
Note that the insuring agreement also will respond to an interruption of business resulting directly from an extortion threat.
In addition to disputes over whether Madoff-related or similar losses fall within the policy's insuring agreements and the limits of coverage potentially available, exclusions from coverage may come into play.
At the time of purchase, policyholders can choose those insuring agreements that best fit their needs, and other policy terms and conditions may be subject to negotiation with insurers.
A typical computer fraud insuring agreement covers "direct loss of, or .
The heart of the new policy is the Computer Systems Fraud Insuring Agreement which covers the insured financial institution for losses it sustains when a knowledgeable, outside, unidentifiable person manages to enter and alter electronic data or computer programs in order to defraud the organization.
The insuring agreement of the CGL policy provides that, for coverage to be applicable, either the property damage or the bodily injury must be caused by an "occurrence.
Further, the insuring agreement does not use the term "occurrence.
Although the insuring agreement and definitions introduce restrictive covenants, the exclusionary language becomes paramount in determining the full breadth of coverage.
The city sought coverage under the terms of its liability insurance policies, including the insuring agreements that afforded personal injury coverage.
There are likely to be cries of outrage from insurers as CGL policyholders seek defense and indemnification against pollution-related claims and liabilities under the policies' personal injury insuring agreements.